by EES President Dr Ingo Friedrich

The cumulative occurrence of four crucial settings of course in November 2020 carries the potential to change the course of world history: 

 First: With the voting out of Trump, the autocratic-populistic leaders of the world – for example Bolsonaro, Johnson or Erdogan – are losing their role model and idol. Suddenly, as clearly as never before, the long-term disadvantages of such a – at first glance – so pleasantly simple policy only focused on one’s own country become apparent: The exit from multilateral treaties, the threatening of trade wars, the brutal lashing outs at uncomfortable partners, all this has led to a dramatic drop in the global standing and therefore economic influence of the USA in this world which has nowadays become so small. Other powers, especially China, immediately used the space that had become available. The “western world” and the western values have thus overall suffered damages. With the election of Biden as US president there is a – one almost wants to say „thank God!” – new chance of some serious politics aimed at the welfare of all people by the still most powerful nation of the world. 

Second: In November 2020, the EURO has replaced the Dollar as new number one and therefore the currency most used worldwide in international payment transactions. Other currencies only play a subordinate role. Over 70 percent of the entire world trade is nowadays carried out in EURO or Dollar. If one considers how many prophesied doom („this will never work!“ etc.) at the time when the EURO was introduced – famous „experts“ as well as parties like the AfD – one can now see: The decision for a common European currency was absolutely right and has brought us stability and security in an unsecure world.  The global role of Europe is immensely strengthened by it, but also demands more European willingness to accept responsibility, especially in the areas of security and diplomacy.

The third setting of course to be named for this meaningful month is the announcement of the Chines-Asian Free Trade Zone (RCEP). With the creation of this now largest economic zone in the world, the global economy changes fundamentally. A partial blame for this development, which sets back the USA and Europe, can also be put on Trump, because he brusquely rejected offers for cooperation from the non-Chinese Asian area with his America first!-policy. The chance that now remains for a new and close cooperation with India, which interestingly did not join the RCEP treaty, absolutely must be used by Europe and the USA. 

And last but now least, the expectation of the development of a vaccine against the Corona pandemic announced in November sets an important positive signal in a clouded world. The fact that one of the two vaccines was developed in Germany, and therefore in Europe, creates some hope for the future potential of our „old“ continent. And the fact that the two creators are son and daughter of migrant families that came from Turkey, also makes hopeful that from the rows of refugees that arrived come not only problems and added costs, but with education and integration also advancement and dynamics.

If Europe does its current homework and finds a new form of close partnership with the future US President Biden, the western world can again fulfil its real task, namely working for a better world. And the month of November 2020 has established the foundations for this.